MARIGIOEL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MARIGIOEL
Largest movements
- Cash -€105,758
down €105,758 (-85.7%), from €123,455 to €17,697
mainly Net result for the year (-€138,751) and Receivables within one year (-€6,350)
- Receivables within one year +€6,350
up €6,350 (+28.3%), from €22,420 to €28,770
of which Trade receivables: +€13,108
- Stocks and contracts +€2,754
up €2,754 (+6.0%), from €45,908 to €48,662
- Tangible fixed assets -€2,658
down €2,658 (-37.5%), from €7,095 to €4,437
of which Furniture and vehicles: -€1,721
- Profit (loss) carried forward -€138,751
down €138,751, from €23,859 to -€114,892
- Trade debts +€34,634
up €34,634 (+59.7%), from €58,041 to €92,676
- Tax, wage and social debts +€4,697
up €4,697 (+5.2%), from €89,622 to €94,319
of which Remuneration and social security: +€7,353
- Gross operating margin -€88,429
down €88,429 (-14.0%), from €630,370 to €541,941
- Other operating charges -€19,455
down €19,455 (-71.4%), from €27,264 to €7,809
- Staff costs -€17,968
down €17,968 (-2.7%), from €670,551 to €652,584
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €199,022 | €99,603 | -€99,419 | -50.0% |
| Fixed assets | 21/28 | €7,095 | €4,437 | -€2,658 | -37.5% |
| Tangible fixed assets | 22/27 | €7,095 | €4,437 | -€2,658 | -37.5% |
| Furniture and vehicles | 24 | €6,158 | €4,437 | -€1,721 | -28.0% |
| Other tangible fixed assets | 26 | €937 | - | -€937 | |
| Current assets | 29/58 | €191,926 | €95,166 | -€96,761 | -50.4% |
| Stocks and contracts in progress | 3 | €45,908 | €48,662 | +€2,754 | +6.0% |
| Stocks | 30/36 | €45,908 | €48,662 | +€2,754 | +6.0% |
| Amounts receivable within one year | 40/41 | €22,420 | €28,770 | +€6,350 | +28.3% |
| Trade receivables | 40 | €662 | €13,770 | +€13,108 | +1,980% |
| Other amounts receivable | 41 | €21,758 | €15,000 | -€6,758 | -31.1% |
| Cash at bank and in hand | 54/58 | €123,455 | €17,697 | -€105,758 | -85.7% |
| Deferred charges and accrued income | 490/1 | €144 | €36 | -€107 | -74.8% |
| Total equity and liabilities | 10/49 | €199,022 | €99,603 | -€99,419 | -50.0% |
| Equity | 10/15 | €51,359 | -€87,392 | -€138,751 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Contributions outside capital | 11 | €25,000 | €25,000 | = | 0.0% |
| Other | 1109/19 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | - | -€2,500 | |
| Reserves not available under the articles | 1311 | €2,500 | - | -€2,500 | |
| Distributable reserves | 133 | - | €2,500 | +€2,500 | |
| Profit (loss) carried forward | 14 | €23,859 | -€114,892 | -€138,751 | |
| Amounts payable | 17/49 | €147,663 | €186,995 | +€39,332 | +26.6% |
| Amounts payable within one year | 42/48 | €147,663 | €186,995 | +€39,332 | +26.6% |
| Trade debts | 44 | €58,041 | €92,676 | +€34,634 | +59.7% |
| Suppliers | 440/4 | €58,041 | €92,676 | +€34,634 | +59.7% |
| Taxes, remuneration and social security | 45 | €89,622 | €94,319 | +€4,697 | +5.2% |
| Taxes | 450/3 | €11,161 | €8,505 | -€2,656 | -23.8% |
| Remuneration and social security | 454/9 | €78,461 | €85,814 | +€7,353 | +9.4% |
| Remuneration, social security and pensions | 62 | €670,551 | €652,584 | -€17,968 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,208 | €4,838 | -€369 | -7.1% |
| Other operating charges | 640/8 | €27,264 | €7,809 | -€19,455 | -71.4% |
| Gross operating margin | 9900 | €630,370 | €541,941 | -€88,429 | -14.0% |
| Operating profit (loss) | 9901 | -€72,652 | -€123,290 | -€50,638 | -69.7% |
| Financial income | 75/76B | €4,508 | €79 | -€4,428 | -98.2% |
| Recurring financial income | 75 | €4,508 | €79 | -€4,428 | -98.2% |
| Financial charges | 65/66B | €15,158 | €15,540 | +€383 | +2.5% |
| Recurring financial charges | 65 | €15,158 | €15,540 | +€383 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€83,303 | -€138,751 | -€55,448 | -66.6% |
| Income taxes | 67/77 | €1,384 | - | -€1,384 | |
| Profit (loss) for the period | 9904 | -€84,687 | -€138,751 | -€54,064 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,687 | -€138,751 | -€54,064 | -63.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.